Puerto Rico Gov. Alejandro García-Padilla signed Tuesday legislation authorizing the issuance of $3.5 billion in general obligation (GO) bonds to be used to refinance outstanding credit lines granted by the Government Development Bank and address the government’s liquidity issues.
The $38 million Hyatt Place & Casino Atlántico opened its doors Tuesday in the northern town of Manatí, looking to establish itself as the place to stay for medical tourists and executives of nearby pharmaceutical and manufacturing plants, hotel executives said.
Some companies from the U.S. mainland operate in Puerto Rico directly vs. through Controlled Foreign Corporations. They pay federal income tax on their territorial income at the normal 35 percent rate.
FirstBank and the Autonomous Municipality of Caguas will be co-hosting an educational conference for small and mid-sized businesses next week, when they will get first-hand guidance for managing the finances of their business during times of crisis.
The Global Advertising Lawyers Alliance (“GALA”) has added the Puerto Rican law firm Ferraiuoli LLC as a new member, effective Feb. 15. GALA is the leading network of advertising lawyers in the world.
Ports Authority officials admitted Monday before the Senate that the agency is not inspecting 100 percent of incoming cargo containers delivered by the different shipping companies that serve the island.
Gustos Coffee Co., producers of the Casa Grande brand of Puerto Rican-grown 100 percent Arabica coffee, is getting ready to expand its presence in the island’s retail market, investing $1 million in its operation to meet growing local demand for its aromatic home-grown java.
The question for all digital business people always beckons. Should I learn Web coding and how much?
Regional carrier Seaborne Airlines announced Monday the start of new non-stop daily service from Luis Muñoz Marin International Airport in San Juan to the Princess Juliana International Airport in St. Maarten, which is now the 19th airport it has added to its roster of destinations during its recent expansion throughout the Caribbean.
Two proposals have been submitted to date for the lease, design, construction and operation of a distribution center at the Rafael Hernández Airport in Aguadilla, according to Puerto Rico Trade & Export Co. officials.
Puerto Rico Trade and Export will review the rental rates of its commercial properties in a move to increase occupancy rates and boost rental income, the public corporation's main source of revenue, this media outlet learned.
MSO of Puerto Rico Inc. President Raúl F. Montalvo announced the appointment of two executives to senior positions in the company:
Under the slogan “Welcome to the City,” the Ciudadela de Santurce urban community recently unveiled a new website, which integrates social networks, a more accessible and easier to read mobile version, and a calendar of events with the latest event in the area.
The downward spiral that Puerto Rico’s bankruptcy filings had been on in recent months came to an end in January, when total cases submitted at the U.S. Bankruptcy Court, 706, were down 4 percent, according to statistics released Friday by analyst firm Boletín de Puerto Rico.
Most manufacturing in Puerto Rico is done by subsidiaries of companies based in the States organized in foreign tax havens to avoid Commonwealth as well as federal taxes. Income of the subsidiaries is not federally taxed unless transferred to the parent company, when it would then owe the 35 percent corporate income tax rate.
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